In early trading on November 17th, gold and silver futures are slightly lower at the moment. This comes as vaccine news was released from pharmaceutical companies Pfizer (PFE Stock Report) and Moderna (MRNA Stock Report). But silver stocks have not fallen too much as a result. Why is this? Well, the vaccine news is negative for the price of silver and gold, but we are far from a widely distributed vaccine at the moment. This has caused silver to be able to hold its price rather well.
Silver prices have gone up with the pandemic still roaring around the world, and the increase of industrial usage of the metal. While the pandemic is going on still, silver and gold prices are expected to stay in their current range, maybe even rising if lockdown falls back into place.
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US retail sales are still down at the moment, even though slightly going up in October compared to September. As of November 17th, silver prices are around $24.50, down 0.16% but up 8.96% in the last 6 months. Let’s now look at the top silver stocks to buy or sell as we continue through November.Top Silver Stocks To Buy [Or Sell]: Avino Silver & Gold Mines Ltd.
The first silver stock to buy or sell is Avino Silver & Gold Mines Ltd. (ASM Stock Report). This silver stock has seen positive momentum throughout 2020. Avino is a silver company that will acquire, explore, mine, and advance various mineral properties. Most of the company’s properties are located in Canada and Mexico. It actively owns 42 mineral claims and leases four mineral claims. It also has 24 exploitation concessions in which cover more than 1200 hectares of land. Let’s see what Avino has been up to in recent times and why this mining stock is increasing in price.
The most recent news from Avino comes on November 9th, when it released its consolidated financial results for the third quarter of 2020. Avino was able to reduce its debt liabilities by $2 million in the quarter. The company’s revenue from mining operations was $2.7 million, which fell from $6.8 million the previous year. Avino’s mine operating income increased 7% year over year as well. This silver stock has gone from $0.60 a share in January to $0.98 as of November 17th. The company was affected by a strike at the mines but has resolved the issues since.Top Silver Stocks To Buy [Or Sell]: SilverCrest Metals Inc.
The next company on this list is SilverCrest Metals Inc. (SILV Stock Report). SilverCrest Metals Inc. is a silver company that acquires, explores for, and develops precious metal properties. These properties owned by the company are in Mexico. This mining stock has benefitted from the rising metal prices throughout 2020. Its main property is the Las Chispas project with 28 concessions totally around 1400 hectares in Sonora, Mexico. Let’s now look at its recent announcements.
On November 12th, SilverCrest reported its third quarter financial results for 2020. It announced a large increase in cash and cash equivalents. It completed multiple private placements in the quarter as well. The company completed 146,000 meters of drilling at its Las Chispas project as well, and completed many other projects under its umbrella. On November 16th, SilverCrest announced a new high grade discovery at the Las Chispas mine. The company announced drill results for its Babi Vista Splay Vein.
This included high grade footprint of about 300 meters along strike and height of 175 meters on average. It has drilled 24 core holes to date. Its weighted averages for gold and silver are very high, at 1.6 meters grading 74.27 grams per ton of gold and 3,437 gpt silver. In total, 9007 g/t AgEq.Top Silver Stocks To Buy [Or Sell]: Fortuna Silver Mines Inc.
Next up on this list of silver stocks is Fortuna Silver Mines Inc. (FSM Stock Report). Fortuna Silver Mines will explore, extract, and process precious metals and base metal deposits. It operates in many Latin America countries such as Peru, Mexico, Argentina, and more. Its main properties include the Caylloma mine, San Jose mine, and the Lindero gold project. So let’s look at Fortuna’s recent advancements and stock price.
Fortuna released its consolidated financial results for the third quarter of 2020 on November 12th. Its sales went up to $83.4 million from $61.3 million year over year. Fortuna’s net income was at $13.1 million, much better than its net loss was $7.7 million in the third quarter of 2019. Its adjusted EBITDA was much higher at $42.2 million compared to $19.2 million year over year as well. The total silver and gold production for the company was 2,127,746 ounces and 112,791 ounces. FSM stock price has gone from around $4 a share on average to $6.60 a share on average as of November 17th.Top Silver Stocks To Buy [Or Sell]: Americas Gold And Silver Corporation
Last but not least is Americas Gold And Silver Corporation (USAS Stock Report). The company is a gold and silver mining company, but also explores for lead, zinc, and copper. It will acquire, evaluate, explore, develop, and operate mineral properties in North America. It holds 100% interest in 67 mining concessions in Mexico, as well as many other properties. So let’s see what is in the recent news for Americas Gold and Silver Corporation.
Just like many others in this time, Americas Gold and Silver Corporation just released its third quarter results for 2020. The report released on November 13th announced revenues of $7.3 million, and a net loss of $6.2 million. Its silver production increased 25% year over year at its Galena Complex, and lead production increased by 65% at the same location.
The President and CEO of the company, Darren Blasutti said, “The Galena Complex Recapitalization Plan continues to pay enormous dividends, beyond increased year-over-year production, as we saw from the recent increase to the mineral reserves and resources.” Due to an illegal blockade at its Cosala Operations, its gross revenue consolidated decreased by $5.2 million in the quarter year over year. USAS stock has not been able to fully recover this year. While it did pass its January price at one point in July, it fell back down. As of November 17th, USAS stock price is at $2.88 a share on average.